Lake George Home Prices at All-Time High

Posted online on Thursday, April 8, 2021, and found in the following Sunday Edition, the Times Union Newspaper shared a story about stewardship and the responsibilities of home ownership on Lake George. While stewardship of the ‘Queen of American Lakes’ is a necessary concern, we would like to share an item from the Times Union piece regarding home sales in Lake George. We recently reported on this blog about the thriving housing market in Lake George.

Taylor Rao, writer for the Time Union, includes in the story:

Right now, Lake George home prices are at an all-time high. Movoto Real Estate reports the median list price of a home is up 73 percent in a year, from $341,950 in 2020 to $594,599 today, with a 45 percent decline in active inventory. As seasonal traffic to the region has continued to increase over the years, it has further accelerated with people’s desire to spread out and safely vacation during the coronavirus pandemic.

Ashley Nagy, a full-time Lake George resident and Realtor with the Adirondack branch of the Shannon McCarthy Team at Keller Williams Capital District, said, on average, her buyers are bidding $20,000 over asking prices to compete for a vacation home or a full-time residence within the Lake George school district. She typically works with homeowners with a budget between $300,000 and $400,000 before considering the amount they’ll use to go over asking.

Read the full piece here.